Cam Thomas’ contract situation with the Brooklyn Nets has taken a sharp turn toward an outcome few would have predicted earlier in the summer. Despite coming off the best season of his career, averaging 24.0 points, 3.3 rebounds, and 3.8 assists on 43.8% shooting, the 23-year-old scorer remains unsigned, with negotiations over a long-term deal at a complete standstill.
According to multiple reports, Brooklyn has shown little urgency to lock Thomas up for the future, offering just a two-year, $28 million deal with a team option in the second season. For a player who entered the offseason hoping for something in the range of four years and $100 million, the gap in expectations is massive.
The situation has reached a point where league insiders now believe Thomas is seriously considering accepting his $5.99 million qualifying offer for the 2025–26 season.
Doing so would set him up for unrestricted free agency next summer, giving him full control over his future but also forcing him into a high-risk, high-reward contract year. While the qualifying offer would be a bargain for Brooklyn, it would also grant Thomas a rare no-trade clause for the season, preventing the Nets from moving him without his approval.
One of the biggest factors in this stalemate is the market itself. The Nets are currently the only team with significant cap space, and rival suitors have yet to emerge with an offer sheet strong enough to force Brooklyn’s hand.
That means the front office can afford to be patient, especially as they continue reshaping the roster with new acquisitions like Michael Porter Jr. and a crop of 2025 draft picks. From their perspective, overpaying for a player who doesn’t fully fit their team-first, defense-oriented identity is a gamble they don’t want to make.
Thomas’ critics point to specific holes in his game as justification for the Nets’ low-ball approach. Only 20% of his shots came at the rim last season, where he was an inefficient finisher.
His three-point shooting, while improved to 34.9%, is not elite, particularly off the dribble. And his iso-heavy style often runs counter to the ball movement and versatility that Brooklyn is trying to cultivate. Zach Lowe even labeled him an “empty calories” scorer earlier this offseason, a tag Thomas publicly rejected, insisting his game brings real winning value.
From Thomas’ perspective, this is about more than pride, it’s about timing. Taking the qualifying offer could be his best route to cashing in when more teams have cap space next summer.
If he plays another productive season, he could easily command $25–30 million annually on the open market, especially if he rounds out his game. The risk, of course, is injury or regression in production, either of which could sink his long-term value.
With just weeks before training camp, the standoff shows no signs of ending. Unless one side softens its stance, the most likely outcome is Thomas betting on himself, playing one more season in Brooklyn, and then testing the waters in what could be one of the most lucrative offseasons of his career. For now, the Nets seem content to wait, and Thomas seems just as ready to walk.
